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Minute No. 236 SP
Washington County Retirement Board
Washington, PA December 16, 2010
A special meeting of the Washington County Retirement Board was held at
approximately 11:05 a.m. on Thursday, December 16, 2010 in the 7t' Floor Conference
Room with the following members being present: Commissioners Larry Maggi, Diana Irey
Vaughan, and J. Bracken Burns; Controller Michael Namie; and Treasurer Francis L. King.
Also present: Chief Clerk Mary Helicke; Secretary Joyce Thornburg; Solicitor Lynn
DeHaveri; Director of Finance Roger Metcalfe; Deputy Controller Joshua Hatfield; Observer -
Reporter representative Barbara Miller; and concerned citizen John Adams. Mr. Lee Martin
representing Peirce Park participated through a conference call.
Public Comment
None.
Old Business
None.
New Business
Mr. Maggi called for a motion to approve the agreement with the Hay Group for a
Retirement System Plan Document and IRS Determination Letter at a cost of $5,000.00. It
was moved by Mr. Namie and seconded by Mr. King.
No discussion followed.
Roll call vote taken:
Mr. Namie — yes; Mr. King — yes; Mrs. Irey Vaughan — yes; Mr. Burns — yes; Mr.
Maggi — yes.
Motion passed unanimously.
By conference call, Mr. Lee Martin presented a summary report outlining the three
global managers as selected by Peirce Park for the consideration of the Board. The three
selected were Harding Loevner Global Equity, American Funds New Perspective, and MFS
Global Equity Fund. After a brief discussion, Mrs. Irey Vaughan made a motion to approve
American Funds New Perspective as the County's global core/growth equity manager. The
motion was seconded by Mr. Burns.
Roll call vote taken:
Mr. Namie — yes; Mr. King — yes; Mrs. Irey Vaughan — yes; Mr. Burns — yes; Mr.
Maggi — yes.
Motion passed unanimously.
The meeting was adjourned at 11:25 a.m.
THE FOLLOWING MINUTES SUBMITTED FOR APPROVAL:
2011
ATTEST: '► e�C�
215
Minute No. 237
Washington County
Washington, PA
February 17, 2011
The quarterly meeting of the Washington County Retirement Board was held at approxim
a.m. on Thursday, February 17, 2011 in the Public Meeting Room with the following members be
Commissioners Larry Maggi, J. Bracken Burns, and Diana Irey Vaughan; Controller Michael Nat
Treasurer Francis L. King. Also present: Chief Clerk Mary Helicke; Secretary Joyce Thornburg;
Administration Scott Fergus; Solicitor Lynn DeHaven; Director of Finance Roger Metcalfe; conci
John Adams; Gene Natali, Jr. representing C.S. McKee; and Lee Martin and Sarah Wilson represe
Park.
Approval of Minutes
Mr. Maggi entertained a motion to approve Minute No. 235 dated November 18, 2010 and
236SP dated December 16, 2010. The motion was moved by Mrs. Irey Vaughan and seconded by
that the above mentioned minutes be approved as written.
No discussion followed.
Roll call vote taken:
Mr. Namie — yes; Mr. King — yes; Mr. Burns — yes; Mrs. Irey Vaughan — yes; Mr. Maggi —
Motion passed unanimously.
Public Comment
Mr. Adams made some general comments concerning the clarification of death benefit
the retirement fund.
Treasurer's Report
Mr. King stated that for November 2010, December 2010, and January 2011, the bank bal,
reconciled to zero. It was moved by Mr. King and seconded by Mrs. Irey Vaughan that the report
approved.
No discussion followed.
Roll call vote taken:
Mr. Namie — yes; Mr. King — yes; Mr. Burns — yes; Mrs. Irey Vaughan — yes; Mr. Maggi —
Motion passed unanimously.
Retirement Allowance Report
Bank Balance as of November 1, 2010 $ 199,210.1
Add: Deposits to Checking Account 578,227.4
Add: Transfers from Investment Account 519,879.7
Less: Cancelled Checks (104,714.5
Less: Transfer to Investment Account (690,021.8
Less: ACH Debits (333.016.4
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